Q2 2026 Cummins Inc Earnings Call Transcript

Aug 4, 2026 / 02:00 PM GMT

Transcript 8-K

Key Points

Positve

Record second quarter sales of $9.5 billion, up 9% year-over-year, driven by strong global power generation demand, particularly from data centers.
Raised full-year 2026 revenue growth outlook to 10-13% and EBITDA margin guidance to 18-18.5%, reflecting improved demand across key markets.
Signed a multi-year agreement with a global hyperscaler, securing visibility into several gigawatts of future backup power demand.
Increased quarterly cash dividend by 10%, marking the 17th consecutive year of dividend growth.
Strong operating cash flow of $1.5 billion in Q2, a record for the quarter, driven by improved working capital.

Negative

EBITDA margin declined to 17.5% from 18.4% a year ago, due to higher variable compensation expenses and increased R&D costs.
Higher incentive compensation expenses, tied to record earnings projections, negatively impacted margins across all segments.
Power generation growth remains capacity-constrained, limiting the ability to fully meet exceptionally strong customer demand.
Mining engine sales outlook was lowered to down 5% to up 5%, from prior guidance of flat to up 10%, due to elevated inventory levels.
Accelera segment continues to incur losses, with net losses expected in the range of $260-290 million for 2026.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CMI.N - Cummins Inc
Q2 2026 Cummins Inc Earnings Call
Aug 04, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the second quarter 2026, Cummins Inc.

Earnings conference call at this time, all participants are in a listen-only mode.

A question-and-answer session will follow a formal, if anyone should require operator assistance, please press 0 on your telephone keypad.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce Nick Aarons, executive Director of Investor Relations.

Please go ahead.

Thank you, Paul.

Good morning everyone and welcome to our teleconference today to discuss for the second quarter of 2026.

Participating with me today are Jennifer Rumsen, our chair and Chief Executive Officer, and Mark Smith, our Chief

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